Zoetis (ZTS) Releases Earnings Results, Beats Expectations By $0.06 EPS

Zoetis (NYSE:ZTS) issued its quarterly earnings results on Thursday. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06, MarketWatch Earnings reports. Zoetis had a return on equity of 72.30% and a net margin of 19.95%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. Zoetis’s revenue for the quarter was up 9.9% compared to the same quarter last year. Zoetis updated its FY 2018 guidance to $3.08-3.13 EPS and its FY18 guidance to $3.08-$3.13 EPS.

Shares of NYSE ZTS opened at $92.77 on Friday. The company has a current ratio of 4.38, a quick ratio of 2.92 and a debt-to-equity ratio of 2.50. Zoetis has a one year low of $67.44 and a one year high of $96.57. The stock has a market capitalization of $43.44 billion, a price-to-earnings ratio of 31.52, a PEG ratio of 1.75 and a beta of 0.97.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Tuesday, November 20th will be paid a $0.126 dividend. The ex-dividend date is Monday, November 19th. This represents a $0.50 dividend on an annualized basis and a yield of 0.54%. Zoetis’s dividend payout ratio (DPR) is currently 20.83%.

A number of research analysts have recently weighed in on ZTS shares. Cantor Fitzgerald set a $98.00 price target on Zoetis and gave the company a “buy” rating in a report on Thursday, August 2nd. Stifel Nicolaus lifted their price target on Zoetis from $86.00 to $95.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Morgan Stanley lifted their price target on Zoetis from $87.00 to $92.00 and gave the company a “hold” rating in a report on Friday, August 3rd. JPMorgan Chase & Co. lifted their price target on Zoetis from $100.00 to $101.00 and gave the company an “overweight” rating in a report on Friday. Finally, Zacks Investment Research upgraded Zoetis from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a report on Monday, September 10th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Zoetis presently has an average rating of “Buy” and a consensus price target of $93.19.

In other Zoetis news, insider Catherine A. Knupp sold 46,816 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $90.84, for a total value of $4,252,765.44. Following the transaction, the insider now owns 81,640 shares in the company, valued at $7,416,177.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Roman Trawicki sold 8,266 shares of the business’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $92.53, for a total value of $764,852.98. The disclosure for this sale can be found here. Insiders sold 208,467 shares of company stock worth $19,071,625 in the last 90 days. Corporate insiders own 0.35% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Valeo Financial Advisors LLC grew its stake in Zoetis by 34.4% in the second quarter. Valeo Financial Advisors LLC now owns 2,210 shares of the company’s stock valued at $202,000 after purchasing an additional 566 shares in the last quarter. Dupont Capital Management Corp grew its stake in Zoetis by 2.5% in the second quarter. Dupont Capital Management Corp now owns 24,508 shares of the company’s stock valued at $2,088,000 after purchasing an additional 601 shares in the last quarter. Dorsey Wright & Associates boosted its stake in shares of Zoetis by 7.9% during the 2nd quarter. Dorsey Wright & Associates now owns 8,386 shares of the company’s stock worth $714,000 after acquiring an additional 617 shares in the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of Zoetis by 40.5% during the 2nd quarter. Rehmann Capital Advisory Group now owns 2,190 shares of the company’s stock worth $187,000 after acquiring an additional 631 shares in the last quarter. Finally, Wrapmanager Inc. boosted its stake in shares of Zoetis by 7.9% during the 2nd quarter. Wrapmanager Inc. now owns 9,176 shares of the company’s stock worth $782,000 after acquiring an additional 672 shares in the last quarter. Hedge funds and other institutional investors own 89.75% of the company’s stock.

About Zoetis

Zoetis, Inc discovers, develops and manufactures a portfolio of animal health medicines and vaccines. Its products are complemented by diagnostic products, genetic tests, bio devices and services. These are designed to meet the needs of veterinarians and the livestock farmers and companion animal. The firm provides its services though five categories namely, anti-invectives, vaccines, parasitic ides, medicated feed additives, and other pharmaceuticals.

Further Reading: Why is the conference call important?

Earnings History for Zoetis (NYSE:ZTS)

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